ConocoPhillips (NYSE:COP) Shares Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 190.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,916 shares of the energy producer's stock after purchasing an additional 7,808 shares during the period. Dark Forest Capital Management LP's holdings in ConocoPhillips were worth $1,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Quantessence Capital LLC purchased a new position in ConocoPhillips in the 4th quarter valued at about $3,622,000. Alta Advisers Ltd boosted its holdings in ConocoPhillips by 29.8% in the fourth quarter. Alta Advisers Ltd now owns 4,412 shares of the energy producer's stock valued at $438,000 after purchasing an additional 1,012 shares during the last quarter. Harvest Investment Services LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at approximately $820,000. IHT Wealth Management LLC increased its holdings in ConocoPhillips by 9.1% during the 4th quarter. IHT Wealth Management LLC now owns 10,124 shares of the energy producer's stock worth $1,004,000 after purchasing an additional 848 shares during the last quarter. Finally, J. Safra Sarasin Holding AG raised its position in shares of ConocoPhillips by 25.2% in the 4th quarter. J. Safra Sarasin Holding AG now owns 7,148 shares of the energy producer's stock valued at $709,000 after purchasing an additional 1,439 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Scotiabank dropped their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Susquehanna set a $136.00 target price on shares of ConocoPhillips in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.89.

ConocoPhillips Stock Performance

Shares of COP stock opened at $89.95 on Thursday. The business has a 50 day simple moving average of $94.76 and a 200 day simple moving average of $100.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $113.72 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $130.77.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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